OpenMarkets Inc., a Chicago-based healthcare technology company that is transforming the way capital equipment is bought and sold, announces Michael Fineberg as its new CEO. Fineberg was recruited as Chief Technology Officer (CTO) a year ago by outgoing CEO and Founder Dan Michalek, who will remain an advisor to the company.
“The opportunity to improve the $80BN healthcare capital market has never been bigger or more necessary,” stated Michalek. “Our hospital and supplier clients are asking us for a comprehensive, data-centric solution that makes the entire process of buying and selling capital equipment faster, smarter, and more efficient. Michael was recruited to architect this expanded vision and as a result we’re adding new hospitals and suppliers faster than ever before. We’re on the right track, and Michael’s passion for customers and his experience as an agent of change in healthcare technology makes him the right person to lead OpenMarkets’ next phase of growth.”
Fineberg joined OpenMarkets in 2015, and comes from SurePayroll, where he served as CTO, heading up product and technology development. He helped lead SurePayroll through a successful sale to Paychex (PAYX-NASDAQ) for $115M and continued on as CTO following the transaction. Technology was a significant contributor to their innovation and growth. Before joining SurePayroll, Fineberg owned and managed a technology-consulting firm and held management positions at a number of large companies, including Hewitt Associates and Medline. He holds an MBA from the University of Chicago-Booth School of Business and a Bachelor of Arts from Northwestern University.
“Dan’s industry-changing vision and the talented team here are a strong foundation for us as we reinvent the marketplace and change what’s possible for buyers and sellers of healthcare equipment,” says Fineberg. “The current, inefficient processes for buying and selling healthcare equipment leads to an SG&A of over 50%. Not only are these processes expensive and archaic, they are directly contributing to the rising costs of healthcare. OpenMarkets changes this by removing an enormous amount of waste and allowing buyers and sellers to work better, together. We’re capitalizing on the opportunity to improve the healthcare supply chain and I am proud to lead this company as we pave the way for progress.”
“Michael is going to be a tremendous CEO for OpenMarkets,” says Randall Crowder, Managing Director of TEXO Ventures and a member of the OpenMarkets Board of Directors. “His innovation mindset and leadership have been extraordinary, and the entire board and senior management are excited to follow Michael’s vision for taking billions of dollars of waste out of the healthcare supply chain.”
The installation of Fineberg as CEO is effective immediately.